Last night the Sac city council voted to fund negotiations and exploratory type stuff regarding an arena deal with KJ's still unnamed whales (expect them to be named tomorrow). The Sac City Manager said they'd like to have a preliminary term sheet presented to the city council in April. Remember when McGinn, Constantine, and Hansen announced they had negotiated a deal before it even went through the council process? That's where Sac wants to be, and their deal is going to suck money from the general fund by using a very questionable funding mechanism through leasing their public parking to private companies for decades. Add to that there is now a second investment group with a too good to be true plan that is only going to serve as ammunition for the anti-pubic subsidy crowd and cause a ton of confusion for Sac.

pinksheets wrote:Last night the Sac city council voted to fund negotiations and exploratory type stuff regarding an arena deal with KJ's still unnamed whales (expect them to be named tomorrow). The Sac City Manager said they'd like to have a preliminary term sheet presented to the city council in April. Remember when McGinn, Constantine, and Hansen announced they had negotiated a deal before it even went through the council process? That's where Sac wants to be, and their deal is going to suck money from the general fund by using a very questionable funding mechanism through leasing their public parking to private companies for decades. Add to that there is now a second investment group with a too good to be true plan that is only going to serve as ammunition for the anti-pubic subsidy crowd and cause a ton of confusion for Sac.

I'm slowly doing a 180, with the Robinson trade, how hard sacramento is fighting for a downright terrible team, and the negative perception that will cloud seattle if we "steal a team," I'm about ready to say f it and hope we get an expansion team in a few years. The Kings are TOXIC.

Edit: Mainly talking about the state of the kings roster/in the future. I understand ownership will change and gm/coach but they owe a lot of picks, don't have a ton of cap room and have a questionable team comp that probably needs to be gutted.

4/27/13 - I was there #humblethug"He looked like a bad man," Sherman said, "and I knew we were alright."

pinksheets wrote:Last night the Sac city council voted to fund negotiations and exploratory type stuff regarding an arena deal with KJ's still unnamed whales (expect them to be named tomorrow). The Sac City Manager said they'd like to have a preliminary term sheet presented to the city council in April. Remember when McGinn, Constantine, and Hansen announced they had negotiated a deal before it even went through the council process? That's where Sac wants to be, and their deal is going to suck money from the general fund by using a very questionable funding mechanism through leasing their public parking to private companies for decades. Add to that there is now a second investment group with a too good to be true plan that is only going to serve as ammunition for the anti-pubic subsidy crowd and cause a ton of confusion for Sac.

In other words, see y'all at the Key this fall.

Beers and Nachos on me!

Where and when?:smile:

There's what I used to know, what I think I know, and what I know I know. And they all get lost in the haze sometimes.

TheRealDTM wrote:I'm slowly doing a 180, with the Robinson trade, how hard sacramento is fighting for a downright terrible team, and the negative perception that will cloud seattle if we "steal a team," I'm about ready to say f it and hope we get an expansion team in a few years. The Kings are TOXIC.

Edit: Mainly talking about the state of the kings roster/in the future. I understand ownership will change and gm/coach but they owe a lot of picks, don't have a ton of cap room and have a questionable team comp that probably needs to be gutted.

The sonics weren't (until ownership created one).I thought the kings were in good position to rebuild, gut the vets(big contracts) let the young guns play and get a high draft pick. Now they're down a tp 5 pick, a second rounder next year and who knows if they'll keep tyreke (they could have moved him)

4/27/13 - I was there #humblethug"He looked like a bad man," Sherman said, "and I knew we were alright."

These type of 'too good to be true' plans act more to muck up the focus of the serious stuff than anything else. You think KJ and his guys want talk of a supposedly public spending free plan going on right now? It's a huge distraction for their more realistic pitch and gives ammo to all of the NIMBY types.

Some of you need to stop worrying, we have the upper hand. An agreed deal, that the maloofs can't back out of, an arena plan that's far ahead any arena deal sacramento, or this dude can come up with in a months time, and we got good money writing the checks. Teams coming to Seattle, everything until the BOG meeting is just noise.

And I hereby decree that Blitzer shall stay away from all Sonics/Kings news for the next 7 days. It's for your own good, dude. KJ is going to announce the whales tomorrow, a hype train will get started, and there is going to be a lot of buzz that isn't necessarily in touch with reality. Let things settle before you get too worked up (which you know you won't so stay away! get in your panic room).

pinksheets wrote:And I hereby decree that Blitzer shall stay away from all Sonics/Kings news for the next 7 days. It's for your own good, dude. KJ is going to announce the whales tomorrow, a hype train will get started, and there is going to be a lot of buzz that isn't necessarily in touch with reality. Let things settle before you get too worked up (which you know you won't so stay away! get in your panic room).

Throwdown wrote:Some of you need to stop worrying, we have the upper hand. An agreed deal, that the maloofs can't back out of, an arena plan that's far ahead any arena deal sacramento, or this dude can come up with in a months time, and we got good money writing the checks. Teams coming to Seattle, everything until the BOG meeting is just noise.

1. Mark Mastrov will be primary owner (this was unclear, Kevin stumbled a bit here)2. Burkle will lead the arena financing3. Mastrov will submit a competitive offer to the NBA tomorrow4. Johnson believes that the bid will be close enough to Seattle that the NBA will make the Maloofs sell to the local group5. THE MONARCHS WILL BE BACK IN THE NEW ARENA

Edit: So basically nothing new, other than that they'll be submitting an offer tomorrow.

So close to Seattles bid, not equal or better, and Burkle will lead financeing for a new Arena that has not been approved, designed or voted on. Sounds like a lot of hopes and wishes. Additionally the NBA just approves a sale, Maloofs already accepted Hansens offer, it would require them renigging on it to not go thru since they have accepeted 30 million in earnest money already also.

But thank you for the post.

To Be P/C or Not P/C That is the Question..........Seahawks kick Ass !!!! Check your PM's, Thank you for everything Radish RIP My Friend. Member of the 38 club.

KJ is sort of a gladhanding politico, but he's got balls. He's really laying his stuff out there to say no way will we get his team. I know it's been said over and over, but Christ I wish we had a mayor like that when the Sonics left.

Mitch from KJR is saying he's hearing that the Sacramento offer is significantly less than the Seattle offer, and that KJ is banking on this idea that a Sac buyer wouldn't have to repay the loan the city gave to the Kings. Mitch said he knows the exact amount of the offer, won't say, but expects the news to start leaking anytime.

Problem with that is, a significantly lower valuation is not going to appeal to owners. On top of that, there is no indication the city is prepared to just forgive that loan. In fact, in the recent city council vote, one of the principles of the arena negotiations authorized was that the existing city loan would be retired and any refinancing would require secure collateral, meaning that a new owner would still be on the hook for it.

He also said the Hansen group has a few "bullets to fire" that they're "sitting on" if need be.

Blitzer88 wrote:Any further updates? Michael Wilbon was just on Nba Live on ESPN and said the city of Seattles stock was down in terms of getting the Kings.

Stern told the media today in Sacremento that the offer needed more money to match what the Seattle offer had going for it. We will see, that may be enough hope to get Johnson and friends to see if they can up the ante.

Yeah, Stern said the two offers weren't even comparable. He also said he expects the gap to be reduced, but that the sides will meet on April 3rd to see what's what. Sounds like this thing could be wrapped up earlier than we thought; however, Stern is still giving Sac every chance in the world here.

Question is, though, if Sac CAN match the offer from Hansen, why wouldn't they from the get go? Why offer so much less initially? It's kind of embarrassing for them.

Honestly I know we're obviously all sports fans on this board and so a lot of people might disagree with me on this... but this kind of stuff is why California is in the financial mess it is. You have the mayor of a major city in Calif seemingly working day and night to keep a sports team in the city. I mean it's ok if the public want to work day and night, but we are talking about the major of a city here. He has a job, first and foremost to serve all parts of the city, not just sports related. We hear rumors of him trying to "lend" the Sacramento investors money without requiring them to even pay it back? WTF.. and people wonder why California is in the mess it is. From an economical standpoint does it even make sense for the team to stay there? I havent even seen any reports of KJ commenting on those points at all, something that should be a key discussion point.

The loan happened in 97, and it's believed that it's only going to be paid back when the team relocates, and the debt the Kings franchise owes to Sacramento would be forgiven if local ownership takes on the team.

But it would seem that Stern doesn't give one damn about it, and the bid was laughable in comparison to what Hansen, Ballmer, and the Nordstroms offered.

I'm gonna be honest with you guys, I think this will be my only hoorah for the NBA/Sonics coming back. I'm 25, who knows when the next time will be when we have this chance, next time (if this for some weird ass reason doesn't come to fruition) it might not mean as much to me the next time. I mean, I'll care but I probably won't be as emotionally invested in it as I am now.

April 18 is when we can throw the party. I wish they'd meet before that, but Stern doesn't want to look like he's dissing Sacramento. Everything KJ says is steeped in political BS - he says local investors have made an "extremely aggressive offer" to the Hansons when it is tens of millions less. He says "we have an arena location" as though the sac arena is a done deal, when they're years away from a highly iffy arena deal. He sounds good, but there's nothing there. If this is all KJ can come up with, then we can start buying green and gold jersies (knock wood, which I actually just did).

therealjohncarlson wrote:Honestly I know we're obviously all sports fans on this board and so a lot of people might disagree with me on this... but this kind of stuff is why California is in the financial mess it is. You have the mayor of a major city in Calif seemingly working day and night to keep a sports team in the city. I mean it's ok if the public want to work day and night, but we are talking about the major of a city here. He has a job, first and foremost to serve all parts of the city, not just sports related. We hear rumors of him trying to "lend" the Sacramento investors money without requiring them to even pay it back? WTF.. and people wonder why California is in the mess it is. From an economical standpoint does it even make sense for the team to stay there? I havent even seen any reports of KJ commenting on those points at all, something that should be a key discussion point.

Step back and think, if Greg Nickels had done as much as KJ has been doing what do you believe would be happening with the city council that was here at the time as well as the general publics general reaction?

I have one word...................UGLY

To Be P/C or Not P/C That is the Question..........Seahawks kick Ass !!!! Check your PM's, Thank you for everything Radish RIP My Friend. Member of the 38 club.

The Outfield wrote:Maybe they low-balled at first in hopes that they'd get some kind of commitment from the NBA if they upped their offer.

If they did then they are really stupid, with the Maloofs getting more money, the league getting millions for relocation money that gets dispersed to teams, additionally the bigger market in Seattle brings more in advertising and marketing revenue and team sales as far as merchandise. All things that up the bottom line for owners in the league. This deal isn't just about now, it's about years of income indirectly. Throw in the political clout of Balmer, Nordstroms and Hansen and their combined net worth for keeping the team viable and competitive and it's another big bonus. Stern has wanted to get Balmer into the league for a long time from what I have heard.

To Be P/C or Not P/C That is the Question..........Seahawks kick Ass !!!! Check your PM's, Thank you for everything Radish RIP My Friend. Member of the 38 club.